The derivatives trading services provided by the ZB Futures trading platform are highly leveraged and risky, and can magnify returns if the market direction is judged correctly, or magnify losses if the direction is judged incorrectly; you should always carefully consider whether the ZB futures match your risk tolerance, investment experience and other personal circumstances in order to avoid incurring losses.
1. Futures trading has high leverage and high risk, ZB is responsible for Futures product design management and trading platform operation services, in order to use the Futures you should read and comply with the ZB Futures user agreement, please be sure to read carefully, fully understand the terms of the content, and choose to accept this agreement or not.
2. Unless you have read and accepted the terms of this Agreement, you do not have the right to use the ZB Futures service. Your acceptance and usage of the Service is deemed to be your reading and agreement to be bound by this Agreement.
3. You agree that all investment you made in ZB represent your true investment intentions and unconditionally accept the potential risks and rewards associated with your investment decisions.
4. You are fully aware of the risks associated with Futures trading and are solely responsible for any trading and non-trading activities on your ZB account. You may not trade or invest beyond your financial ability.
5. You are solely responsible for knowing the true status of any position, even if ZB is at any time incorrectly displayed in this regard.
6. You have fully read and accepted the risk control rules for ZB Futures:
●Maintenance margin mechanism
●Force Deleveraging and force Liquidation
●Counterparty Liquidation （Auto-deleveraging，ADL）
●Maintenance margin mechanism：ZB perpetual futures adopting the maintenance margin model to prevent large positions from being forced-liquidated with a large loss of penetration, which could impact market liquidity and even lead to more forced liquidation. The maximum amount of leverage available depends on the notional value of your position, the larger the position, the lower the leverage. The larger the position, the higher the Maintenance Margin rate.
●Force Deleveraging and force Liquidation：ZB futures adopt partial forceDeleveraging as risk control measure to prevent large positions being force liquidation and causing significant losses as well as impacting the market price drop falls and trigger more unnecessary liquidation.The force Deleveraging Mechanism can be seen as a buffer for force position closing, which does not close immediately when the margin rate corresponding to the position held by a large user is lower than the maintenance margin rate + transaction commission corresponding to the current position, but still higher than the maintenance margin rate + commission of the lowest position. The force deleveraging mechanism will calculate the number of positions differing from the next level of the position step by step and carry out partial position deleveraging. The margin rate after successful downshifting will be compared with the maintenance margin rate required for the corresponding position after downshifting again, and stop downshifting if it will not trigger force liquidation, and if the maintenance margin rate requirement for the new position is still not met, the force liquidation will continue to be cycled.
●Counterparty Liquidation （Auto-deleveraging，ADL）：Counterparty liquidation would be executed when Insurance fund is insufficient to cover the loss of the bankruptcy when user triggers forced liquidation and bankrupt.Not all the user will be affected by Counterparty Liquidation or Auto-Deleveraging ADL.For your own safety, users better to keep close eye on the indicator of ADL lights to judge if you own position would be ADL by priority situation.please be noted that users positions would be executed ADL when all the indicator light on.
7. ZB reserves the right to suspend and terminate the Futures service. ZB may suspend or terminate the Futures service when necessary. Such measures may result in temporary inability to access the Service or immediate liquidation of certain of your positions, and ZB shall not be liable for any such losses.
8. ZB will not be liable for losses if the system platform is not functioning properly due to the following conditions, making it impossible for you to use the services or to entrust them normally, including but not limited to.
a) ZB platform announcement system downtime during maintenance.
b) The failure of telecommunication equipment that does not allow data transmission.
c) Force majeure factors such as typhoon, earthquake, tsunami, flood, power outage, war, terrorist attack, etc., which cause the ZB platform system obstacle cannot execute the business.
d) service interruption or delay due to hacker attacks, computer virus intrusion or attacks, technical adjustments or failures of telecommunications departments, website upgrades, problems with banks, temporary shutdowns due to government controls and other reasons affecting normal network operations.
e) Losses caused by technical problems that can't be predicted or solved by the existing technical power of the industry
f) Losses caused to you or other third parties due to the fault or delay of third parties.